Best Buy Co. Inc. store traffic is robust, though sales online have slowed. Shares of the consumer electronics retailer sank 6.8% in Thursday trading after the company reported robust same-store sales growth of 7.1%, but online sales growth slowed. “The only two ‘yellow flags’ we see are gross margin running 10 basis points below consensus and a deceleration in online revenue growth from a 20%+ run rate in recent quarters to 12% in F1Q19,” wrote Raymond James analysts.

U.S. stocks dropped on Thursday, but were well off the session lows hit after President Donald Trump canceled a summit with North Korea's Kim Jong Un and threatened to impose tariffs on auto imports. Trump ...

Best Buy Co Inc (NYSE:BBY) has staged one of the most impressive comebacks in retail history over the past several years. The company has gone from left-for-dead retailer being eaten alive by Amazon.com, Inc. (NASDAQ:AMZN), to a red-hot retailer with comparable sales growth consistently north of 5%. Meanwhile, Best Buy stock has gone from $10 to $70.

This is an increase over its earnings per share of 60 cents from the same time last year. It also comes in above Wall Street’s earnings per share estimate of 74 cents for the quarter. Net income reported by Best Buy Co Inc for the first quarter of the year was $208 million.

Best Buy BBY shares were sinking Thursday following a first-quarter beat that failed to impress Wall Street. "It was priced to perfection going into the number," Boris Schlossberg , managing director of FX strategy at BK Asset Management, told CNBC in an email Thursday. Best Buy shares declined by about 8 percent on Thursday even after a quarterly beat on its top and bottom lines.

Best Buy posted strong sales of mobile phones, appliances, and smart computing products as it showed in its financial results that store chains can still thrive as shoppers buy more online. The nation's largest consumer electronic was also buoyed by stronger consumer confidence in reporting first-quarter revenue and profits that beat Wall Street estimates. Only a few years ago, naysayers were writing Best Buy's obituary.

“This strong performance was broad-based, with positive comparable sales across all channels, geographies and most of our product categories,” Mr. Joly said. Best Buy’s shares have climbed 47% over the past year compared with the S&P 500’s 14% gain, but tumbled 6.7% to $70.85 during morning trading after the company decided not to raise its annual guidance despite reporting first-quarter earnings that blew past expectations. The company continues to expect comparable sales to be flat to up 2% for the year, which given the first quarter’s strong results could mean negative comparisons in the back half of the year, according to a Wells Fargo research note.

It appears as though the Fed might be willing to give the economy a bit more running room, and that seems to agree with the market. Stocks recovered from earlier losses Wednesday after the Fed minutes showed a willingness to let inflation run a little above the Fed’s long-term 2 percent target. Over on earnings row, Best Buy Co. Inc. (NYSE: BBY) posted Q1 earnings of 82 cents a share, above Wall Street analysts’ estimates of 74 cents.

Shares of Best Buy (BBY) are down more than 6% on Thursday after the electronics retailer reported first-quarter earnings. Best Buy said it earned 82 cents a share on revenue of $9.11 billion, while analysts were looking for EPS of 74 cents on revenue of $8.75 billion. Comparable-store sales were up 7.1% in the quarter.